Senner Christopher J. 4

What Happened
Christopher J. Senner, EVP and Chief Financial Officer of Exelixis, sold a total of 100,765 shares of Exelixis common stock in mid‑February 2026 across three dispositions: 34,278 shares on Feb 13 at $43.00 ($1,473,954), 35,870 shares on Feb 15 at a weighted average $43.92 ($1,575,410), and 30,617 shares on Feb 17 at a weighted average $43.67 ($1,337,044). Total proceeds across the three transactions were roughly $4.39 million. These were sales/dispositions (not purchases).

Key Details

• Dates & prices:
  • Feb 13, 2026 — 34,278 shares sold at $43.00 (F1: multiple sales at $43.00–$43.04; weighted avg reported).
  • Feb 15, 2026 — 35,870 shares disposed at $43.92 (code F: payment of exercise price or tax liability).
  • Feb 17, 2026 — 30,617 shares sold at $43.67 (F4: multiple sales at $43.66–$43.78; weighted avg reported).
• Total shares sold: 100,765; total proceeds ≈ $4,386,408.
• Holdings after report: Filing notes 427,690 shares issuable upon vesting of RSUs/PSUs (One‑Time Award PSUs) (F2); it also references shares withheld to satisfy taxes on prior performance RSUs (F3) and Exelixis 401(k) plan shares (F5). The filing excerpt provided does not state a single net “shares owned after” total.
• Notable footnotes:
  • F1/F4: weighted average sale prices; multiple transactions within the listed price ranges.
  • F2: 427,690 RSUs/PSUs to be issued upon vesting from a March 31, 2025 award.
  • F3: shares withheld to satisfy taxes related to performance RSUs awarded March 4, 2022 (performance certified Jan 16, 2025).
  • F5: includes shares held under the company 401(k) plan.
• Timeliness: The report was filed Feb 18, 2026 for transactions occurring Feb 13–17, 2026. Because Form 4s are generally due within two business days of a transaction, the Feb 13 sale may have been reported later than the typical 2‑business‑day window (see filing for details).

Context

• Transaction code F indicates shares were disposed to satisfy an exercise price or tax liability (i.e., shares surrendered/withheld), while S indicates open‑market sales. Part of the activity appears to be routine tax‑related withholding rather than a straight cash‑raise sale.
• Sales by officers are common and do not by themselves signal company prospects; purchases generally carry more direct bullish signal for retail investors. This summary is factual and does not speculate on motivations.